After the 7.0-magnitude earthquake hit Haiti on January 12, first-response teams flew in from all over the world to assist in rescue efforts. Two of these groups were armed with a software program called Decisions for Heroes, which assists first-responders in disasters, missing person searches, and other rescue operations. Because of their efforts, countless lives were saved.
Decisions for Heroes got off the ground thanks to the iQ Prize, a contest in Ireland that sought to fund the best business proposal and, in the process, kick-start the Irish economy.
Now, CREED is undertaking a similar project here in America. But unlike the iQ Prize, CREED’s award money won’t come from a single company; instead, the money will come from people like you. And business proposals won’t be limited to Internet start-ups; our Crowdfunding initiative will award $5,000 to the most viable business plan in any sector.
Main Street Traffic Jam
American small businesses are responsible for about half of our country’s GDP and more than half of the employment, with the single largest employer sector being businesses with less than 10 workers (Wikipedia). We all know that small businesses are critical to our economy, and yet their small size makes them vulnerable to the changing tides of this uncertain economy. Just staying afloat is a challenge for many established businesses, but even tougher is the task of starting a new business. And yet, innovation is exactly what our country needs right now.While our political parties and government branches quibble about how to help our small businesses, you can take an immediate, active part in getting a new business off the ground by participating in CREED’s Crowdfunding initiative.
Outvesting, a crowdfunding initiative that sought 50-euro donations to fund the best business idea, surpassed its 5,000-euro goal and was able to award 5,806.75 to its first winner, Kildare Street.While I think Americans are generous enough to beat and exceed our $5,000 goal, too, this is what we need to launch the project. Once the amount is reached, we’ll begin accepting business plans/proposals from entrepreneurs.In exchange for one $50 donation, you’ll receive one vote to cast for what you believe is the most viable business plan. Each additional $10 donation is worth another vote.In this way, you’ll be using your financial resources and business experience to help an entrepreneur. The quicker we reach our fundraising goal, the quicker we can award startup funds to a new business, and help restart our economy. So, grab your bucket, join the crowd and focus on Main Street; after all, it could be your business that is affected most - you could win!